Exercise 3.5Determining account balances.

The following T accounts show transactions that were recorded by Residential Relocators, a firm that specializes in local housing rentals. The entries for the first transaction are labeled with the letter (a), the entries for the second transaction with the letter (b), and so on. Determine the balance of each account.

Objective 3-3 Cash

(a) 95,000

(b) 23,000

(d) 15,000

(e) 350 (g) 1,500 (h) 5,500 (i) 2,500 Equipment

(c) 40,000 Accounts Receivable

(f) 5,000 (g) 1,500 Supplies

(b) 23,000 Scott Hamilton, Capital

(a) 95,000 Scott Hamilton, Drawing (i) 2,500 Salaries Expense (h) 5,500 Accounts Payable

(c) 40,000 Fees Income

(d) 15,000

(f) 5,000